Osborne’s ‘Northern Powerhouse’ vision becoming a reality

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George Osborne’s vision of a ‘Northern Powerhouse’ is becoming a reality, according to Q2 figures release by CV-Library, the UK’s leading independent job board.

Statistics from Q2 reveal that job growth rates in many of the UK’s northern cities are soaring ahead of the south.

London still held a 17.02 percent share of the nation’s 391,811 jobs for last quarter. However, despite Edinburgh only attributing a 0.62 percent share of the UK’s jobs, it ranks first for job growth in Q2 and held top position for two consecutive months during this period, overtaken by Liverpool in June 2015.

Lee Biggins, founder and managing director of CV-Library, comments:

“This is encouraging news for UK businesses of all shapes and sizes. There is still a lot that needs to be done to achieve George Osborne’s vision, but it’s reassuring to see such high job growth rates in the north so early on in the process.”

Evidence suggests that the Conservatives’ five year plan to close the job growth gap separating the north and south of the country is beginning to take effect. However, the number of jobs available in the north still has a way to go before they can compete with London’s current share.

Despite Edinburgh, Liverpool and Birmingham holding low positions in the UK job share, they ranked top three for job growth in Q2 2015. London’s growth is also starting to slow, which suggests Cameron’s aims to increase job growth in the north and steady growth in the south is working.

Biggins adds:

“With planning projects of such a large scale, the recent news of infrastructure problems in the north and projected budget cuts aren’t surprising. However, our findings suggest that positive results will come from this scheme as we look to the future of job development in the UK.”

In June 2015, Liverpool, Edinburgh and Birmingham also experienced job growth rates over 50 percent, all of which are above the UK’s national average of 40.3 percent during this period.

The UK’s top cities’ job growth in Q2 2015:

1.      Edinburgh – 28.4% growth

2.      Liverpool – 16.94% growth

3.      Birmingham – 14.34% growth

4.      London – 12.71% growth

5.      Southampton – 10.74% growth

6.      Manchester – 9.32% growth

7.      Leeds – 8.73% growth

8.      Glasgow – 8.08% growth

9.      Newcastle – 5.13% growth

The UK’s top cities’ job share in Q2 2015:

1.      London – 17.02% of UK’s jobs Q2

2.      Birmingham – 5.79% of UK’s jobs Q2

3.      Manchester – 3.89% of UK’s jobs Q2

4.      Leeds – 2.96% of UK’s jobs Q2

5.      Southampton – 1.24% of UK’s jobs Q2

6.      Liverpool – 1.22% of UK’s jobs Q2

7.      Newcastle – 1.19% of UK’s jobs Q2

8.      Glasgow – 0.79% of UK’s jobs Q2

9.      Edinburgh – 0.62% of UK’s jobs Q2

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